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%VentureGlobal (NYSE: $VG ) is holding its highly anticipated initial public offering (IPO) in New York today (Jan. 24) in what’s being billed as the largest ever share sale by a liquefied natural gas concern.

The Arlington, Virginia-based company comes to market after lowering its IPO valuation to $60.50 billion U.S., a 40% reduction from an initial valuation of $110 billion U.S.

Media reports say Venture Global reduced its valuation after investors balked at the price and analysts deemed it to be “lofty.”

Still, Venture Global is set to be one of the largest U.S.-listed energy companies once its shares begin trading on the New York Stock Exchange (NYSE) under the ticker symbol “VG.”

The company sold 70 million U.S. worth of shares at $25 U.S. each for gross proceeds of $1.75 billion U.S.

Venture Global had initially proposed raising as much as $2.30 billion U.S. by selling shares at $40 U.S. to $46 U.S.

Even with the reduced IPO, Venture Global is firmly in league with top U.S. energy companies and is larger than high-profile names such as %OccidentalPetroleum (NYSE: $OXY ) and %Schlumberger (NYSE: $SLB ).

Venture Global's share sale is being marketed as the biggest IPO ever by an LNG company, according to Dealogic. It is the third-largest energy sector listing in the U.S. since 1995.

The company’s market debut is being viewed on Wall Street as a test both of equity markets and energy companies under the new administration of U.S. President Donald Trump.

Trump has made increasing U.S. energy output and rolling back policies aimed at climate change a central tenet of his administration.

After his inauguration on Jan. 20, Trump issued an executive order that restarts processing export permit applications for new LNG projects in the U.S.

Rising prices for crude oil and natural gas, and optimism for pro-energy policies under the Trump administration, are expected to drive a recovery in energy sector IPOs, say analysts.